Luanda, Nov. 7 (Lusa) - The Angolan currency, the kwanza, on Wednesday fell to new historical minimums, after being traded at 354.111 kwanzas/euro and 309.866 kwanzas/dollar, according to the country's central bank (BNA).
The bank said that the Angolan currency has depreciated 47.64% since January, when it was worth 185.49 kwanzas/euro.
Against the US currency, the kwanza has fallen 46.45% since January, when it was traded at 165.92 kwanzas/dollar.
After the three-weekly sale of foreign exchange sessions to commercial banks, initiated on 9 January, since 1 November the bank is performing daily operations to commercial banks in Angola, having said that in November, it intends to inject $850 million dollars (€732 million) ino the primary market.
In September, the bank announced that it would stop selling foreign currency directly from 1 October and requests to foreign currency would once again only be able to be presented by the authorised commercial banks.
It also said that the adjusted system of direct sales allowed it to have a more precise understanding of the methodology necessary for the protection of international reserves and to issue regulations and guidelines to commercial banks adapted to this goal.
The bank now understands that with the exchange market currently better regulated and more regular in the supply of foreign currency, the conditions were created for the commercial banks to carry out once more the allocation of the foreign currency to its clients.
JSD/IMYN // ADB.
Lusa